MetaTrader separates the instruction you send from the execution that follows. Choosing an order type defines when an instruction becomes eligible and which price conditions apply. It does not reserve liquidity or guarantee that a position will open or close at one exact price.
Orders, deals and positions
An order is an instruction. A deal is an execution generated from an order. A position is the resulting market exposure. An order may be rejected, remain pending, fill once or produce more than one deal, depending on the platform configuration, product and available liquidity.
Check the Trade or Toolbox area after every instruction. A confirmation that an order was submitted is not always confirmation that the intended position now exists.
Market orders
A market order asks to buy or sell using the available execution conditions. The price shown before submission can change while the instruction is transmitted and processed. Spread, market movement, order size and liquidity can all affect the fill. Slippage may be favourable, adverse or zero.
Use a market order when immediate eligibility matters more than setting a price boundary, while recognising that execution is still subject to the product and account terms. Order Types and Execution Mechanics explains this wider process.
Limit orders
Buy Limit
A Buy Limit is placed below the current market reference and seeks a purchase at the limit price or a more favourable available price after the condition is reached. The market may never reach the level, and reaching it does not guarantee a fill if liquidity is insufficient.
Sell Limit
A Sell Limit is placed above the current market reference and seeks a sale at the limit price or a more favourable available price. It can remain pending until filled, cancelled or expired under the selected settings.
Stop orders
Buy Stop
A Buy Stop sits above the current market and becomes eligible when the trigger is reached. It is commonly used when the planned entry depends on price moving higher, but the resulting execution can differ from the trigger in fast or gapping conditions.
Sell Stop
A Sell Stop sits below the current market and becomes eligible when the trigger is reached. It does not guarantee a sale at that exact level if the next available price is lower.
Stop-limit orders in MT5
MT5 adds Buy Stop Limit and Sell Stop Limit. The stop level activates a separate limit instruction, which then applies its own price boundary. This creates two conditions: the stop must trigger and the limit order must then be executable. The market can move through both levels without a fill.
These instructions may not be available for every RG product or account. MT4 uses the four standard pending-order types described above.
Stop Loss and Take Profit
Stop Loss is a protective exit trigger intended to limit an adverse move. Take Profit is an exit instruction intended to close at a selected favourable level or better, subject to platform rules. They are attached to or associated with a position, but neither is a guaranteed outcome.
Gaps, halts, thin liquidity, connectivity and product restrictions can affect triggering and execution. A stop placed too close may also be rejected under the instrument’s current minimum-distance rules.
Expiry, modification and cancellation
A pending order can be good until cancelled or use an available expiry setting. Server time may differ from your local time. Modifying or cancelling an order is itself a request: confirm the platform status rather than assuming the change succeeded.
Closing the platform does not necessarily cancel server-side pending orders or close positions. MT4 Foundations and MT5 Foundations show where to monitor them.
An order-ticket checklist
- Confirm the live or demo account and correct server.
- Verify the exact symbol and current trading status.
- Check direction and product-specific volume.
- Choose market, limit, stop or stop-limit deliberately.
- Review trigger and limit prices on the correct side of the market.
- Set protective levels only after checking valid distance rules.
- Confirm expiry and server time.
- Read the platform response and actual fill.
- Monitor the resulting order or position in the appropriate tab.
MetaTrader provides order controls; it does not remove leveraged CFD risk. Position size, margin, price gaps and available liquidity still determine how an instruction affects the account.